The levy would be a renewal, originally passed in 2005, that generates $4.2 million a year for the district. Millage would be based on that dollar amount. The tax was last approved in March 2008, at a rate of 5.15 mills, which costs the owner of a $100,000 home about $180 a year.
In recent years, more money is going out than coming in and the district has a projected deficit of about $5 million in its five-year forecast, Lebanon schools Treasurer Eric Sotzing has said. The deficit could grow as school officials are anticipating revenue losses of 5 to 20 percent because of state budget cuts.
A second tax issue may be necessary depending on what the state’s next biennial budget looks like in January 2011, said Lebanon schools Superintendent Mark North.
“That three-year renewal levy is a true lifeline for the district to operate,” North said. “It’s an absolute necessity.”
Contact this reporter at (513) 696-4542 or rwilson@coxohio.com.
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